Its online catalogue featured an advertisement of a black boy sporting a hoodie with the words “Coolest monkey in the jungle” written on it.Īccording to Gothenburg University marketing professor Eva Ossiansson, the gaffe is a sign that H&M has lost its Midas touch. “It’s (been) one of the toughest years for H&M,” Joakim Bornold, an economist at the investment bank Nordnet told AFP, noting that the company’s stock price has fallen by 35% since January 2017.Īs if the company’s earnings weren’t problematic enough, H&M last week found itself in the middle of a social media storm, accused of racism. H&M is one of the most well-known brands in the world, with global brand consultancy Interbrand ranking it the 23rd best known company worldwide in 2017 – ahead of Ikea and fashion luxury goods manufacturer Hermes.īut lately, H&M has struggled to lure shoppers into its 4,553 stores around the world, and has been slow to develop its online offering. While some are calling for a boycott others are demanding a detailed explanation on how and why the advert was approved.A racism scandal at H&M is the latest indication of management problems at the Swedish clothing giant, once the darling of shoppers but now struggling to make the switch to e-commerce, analysts say.
The company is accused of being racist and lacking in diversity.
The online campaign features two kids, a white kid who is seen wearing a orange hoodie with the writing "Mangrove Jungle Survival expert" and the black kid who is wearing a green hoodie with the writing "Coolest Monkey in the Jungle". The fast-fashion retailer sells clothing for men, women, teenagers and children. The white kid is seen wearing a orange hoodie with the writing "Mangrove Jungle Survival expert" and the black kid is seen wearing a green hoodie with the writing "Coolest Monkey in the Jungle" Swedish multinational clothing-retail company H & M (Hennes & Mauritz) has been thrown into the hot coals and is currently receiving major social media backlash for their children's hoodie advert.
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